A Fresno and Reedley-based fruit grower and packer is objecting to a motion filed by debtors to bankrupt Prima Wawona to approve the sale of the companys assets.
Trinity Fruit Company argued that the motion is preventing it from receiving payment for perishable products that it provided.
The backstory: Prima Wawona, the nations largest peach producer, filed Chapter 11 bankruptcy proceedings on Oct. 13 with the intent to sell the company to an outside party.
- Prima Wawonas lenders could take control of the company through a debt-to-equity conversion if it is not sold to a third-party.
- In its objection, Trinity argues that it has the right to receive payment for its products under the Perishable Agricultural Commodities Act (PACA), w…
Read the full article at: https://sjvsun.com/ag/valley-fruit-packer-objects-to-expedited-prima-wawona-bankruptcy-sale/